In today’s increasingly competitive retail industry, stores often struggle to differentiate themselves when offering similar products at similar prices. However, the customer experience (CX) — defined as the sum of all interactions a customer has with a brand — can be a powerful differentiator. So much so that, according to studies done by PWC, companies offering superior CX can charge a 16% higher premium for the same products and services as their competitors. Similarly, according to that same study, over 90% of surveyed users reported they’d buy from a company again after receiving excellent customer service. By focusing on the customer experience, retailers can build loyalty and retain users in a crowded market. This not only impacts their bottom line, but it also separates them from the competition. Delivering a remarkable CX involves understanding customer needs and exceeding expectations. Retailers must make the customer experience a priority to drive profits, boost retention and stand out. To learn more about the ways in which organizations are doing exactly that and providing an experience that’s memorable for their customers, please see the infographic accompanying this post.
How CX Can Combat Customer Churn a resource provided by BillingPlatform, the premier choice for a cpq billing system